Shares of several companies in the broader technology sector, including Fastly Inc (NYSE:FSLY) and Palantir Technologies Inc (NYSE:PLTR), are trading higher amid overall market strength as investors weigh ceasefire negotiations between Russia and Ukraine.
Shares of several companies in the broader technology sector are also trading higher as stocks rebound following a steep selloff to start the year, which was driven by concerns of Fed policy tightening going into 2022. A drop in US Treasury yields and a pullback in oil prices Tuesday have also helped lift market sentiment. When interest rates otherwise rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.
Fastly is trading higher by 6.35% at $18.43.
Palantir Technologies is trading higher by 4.51% at $14.02.
